Deals
CIMB Gets Nod to Start RHB, Malaysia Building Merger Talks
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CIMB Group Holdings Bhd. said it received central bank approval to begin merger discussions with RHB Capital Bhd. and Malaysia Building Society Bhd. to create the country’s biggest banking group by assets.
The companies, which have a combined market value of about $28 billion, entered into a 90-day exclusive agreement to negotiate and finalize the price and structure of the merger, according to a joint statement from the lenders yesterday. The plan includes the creation of a mega Islamic bank, they said.